Ethereum has reached a new all time high of $2,590, more than recovering from the crash earlier last week while bitcoin seems to be somewhat struggling at $54,000, down from $65,000.
The ethereum ratio has been on a bull run, up to 0.047 bitcoin from 0.038 just a couple of days ago.
The reason is most likely because ethereum has increased capacity by about 20% following numerous gas related improvements during the upgrade earlier this month.
As can be seen above ethereum’s block limit has been increased to 15 million gas units for the first time in a year, up from 12.5 million.
Vitalik Buterin, ethereum’s co-founder, has suggested it can be increased further to 20 million, but it appears miners for now are going with 15 million.
This increase in capacity could potentially make ethereum more attractive to speculators that went to cardano or the copy pasta centralized Binance Chain.
Some of these so called eth ‘killers’ have been falling while eth has been rising with it seemingly taking the show for now.
A lot of these eth killers made huge gains in part perhaps because some ethereans went speculating there.
Now it may be those ethereans and others, as well as all that value, is coming back to eth which also plans to launch a number of second layer solutions this summer as well as EIP1559 that may change the dynamics between fees and the gas limit that could potentially add some more capacity.